I agree Diablos. It looks like my timing was off a little. I really expected the 111.17 print to be hit today or tomorrow, but it might not hit until next week now.
Yes, you certainly could have made money on the move down today… for a 1-2 day move, however the move I'm looking for is a large wave 3 down. It now looks like that won't happen until late next week.
But, I do expect a move up tomorrow… as it's opx and they aren't going to let the new put buyers make any money. We might close out Friday around 1100 or so… that's my guess.
He who hesitates is lost – or at least has to wait until another re-entry point. I was going to go short again at SPY 110 but decided to wait for 111. Also, this thing called work and meetings keeps getting in the way or maybe saves me.
It looks like the 111.17 print will have too wait until next week, as it's not likely to hit today. However, with no major news out tomorrow, we could see a move higher.
I think our major move down is going to be on the 26th-27th now. That would give the daily chart the time it needs to get above the zero level on the histogram bars, and then roll over for good. They never make it easy for the bears.
You know… they might dip below the zero level on the 60 minute chart today, and then recycle it back up tomorrow to the 111.17 level? With the daily still pushing up, I don't see the 60 spending too much time in negative territory.
I agree Diablos. It looks like my timing was off a little. I really expected the 111.17 print to be hit today or tomorrow, but it might not hit until next week now.
Yes, you certainly could have made money on the move down today… for a 1-2 day move, however the move I'm looking for is a large wave 3 down. It now looks like that won't happen until late next week.
But, I do expect a move up tomorrow… as it's opx and they aren't going to let the new put buyers make any money. We might close out Friday around 1100 or so… that's my guess.
He who hesitates is lost – or at least has to wait until another re-entry point. I was going to go short again at SPY 110 but decided to wait for 111. Also, this thing called work and meetings keeps getting in the way or maybe saves me.
To support 111.17, most counts assume we are in a corrective wave (A-B-C).
if A = (1100.14 – 1069.49) = 30.65 and if todays low holds,
B = (1100.14 – 1077.35) = 22.79 or 74.4% (B wave retraces >50 <78.6)
Most Common C values are 100% of A.
Taking 100% you have 1077.35 + 30.65 = 1108
Not saying, but not eliminating.
It looks like the 111.17 print will have too wait until next week, as it's not likely to hit today. However, with no major news out tomorrow, we could see a move higher.
I think our major move down is going to be on the 26th-27th now. That would give the daily chart the time it needs to get above the zero level on the histogram bars, and then roll over for good. They never make it easy for the bears.
Notice the vixes are flat. This is a manipulated move. expect a major bounce.
And I hope iam wrong.
If the Philly Fed numbers are bad, this thing is going to fall off a cliff. There won't be and 111.17 print, that's for sure.
You know… they might dip below the zero level on the 60 minute chart today, and then recycle it back up tomorrow to the 111.17 level? With the daily still pushing up, I don't see the 60 spending too much time in negative territory.
LOL… it happens to me too Jim. Don't worry about it. It's no big deal.
Looks like they are going for gap fill.